Establishment Labs (NASDAQ:ESTA) Shares Up 7.2% – Here’s Why

Establishment Labs Holdings Inc. (NASDAQ:ESTA) was up 7.2% during mid-day trading on Friday . The stock traded as high as $81.18 and last traded at $81.02. 112,510 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 553,757 shares. The stock had previously closed at $75.59.

Analyst Ratings Changes

A number of brokerages recently issued reports on ESTA. Canaccord Genuity Group set a $105.00 price target on Establishment Labs in a report on Thursday, August 6th. Citigroup upgraded Establishment Labs from a “neutral” rating to a “buy” rating and set a $92.00 price objective on the stock in a research report on Thursday. Weiss Ratings reissued a “sell (e+)” rating on shares of Establishment Labs in a research note on Wednesday, June 24th. JPMorgan Chase & Co. upped their target price on Establishment Labs from $84.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Needham & Company LLC raised their price target on Establishment Labs from $86.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Establishment Labs has a consensus rating of “Moderate Buy” and an average price target of $100.25.

Establishment Labs Price Performance

The company has a quick ratio of 1.91, a current ratio of 2.96 and a debt-to-equity ratio of 16.82. The firm’s 50-day moving average is $86.69 and its 200-day moving average is $74.54. The company has a market cap of $2.39 billion, a PE ratio of -61.24 and a beta of 1.07.

Establishment Labs (NASDAQ:ESTA) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). The company had revenue of $67.54 million during the quarter, compared to the consensus estimate of $65.79 million. Establishment Labs had a negative return on equity of 205.79% and a negative net margin of 15.82%.Establishment Labs’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.57) earnings per share. On average, equities analysts anticipate that Establishment Labs Holdings Inc. will post -1.16 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. KBC Group NV bought a new stake in shares of Establishment Labs during the first quarter valued at approximately $28,000. Quarry LP bought a new position in Establishment Labs in the third quarter worth $34,000. Northwestern Mutual Wealth Management Co. bought a new position in Establishment Labs in the second quarter worth $43,000. Kestra Advisory Services LLC bought a new stake in shares of Establishment Labs during the 4th quarter valued at $47,000. Finally, Osaic Holdings Inc. grew its position in shares of Establishment Labs by 900.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,000 shares of the company’s stock worth $85,000 after buying an additional 1,800 shares during the period. Hedge funds and other institutional investors own 72.91% of the company’s stock.

Establishment Labs Company Profile

Establishment Labs Holdings Inc is a global medical technology company specializing in the design, development and manufacture of silicone gel breast implants for aesthetic and reconstructive surgery. The company’s proprietary portfolio is built around patient-focused safety, customization and innovation, offering solutions intended to enhance surgical outcomes and support clinical traceability.

The company’s flagship products fall under the Motiva® brand, which includes a range of ergonomic and round breast implants featuring SilkSurface® texturing and an embedded Q Inside® Safety microtransponder for unique implant identification.